Honda books first annual loss, hit by $9 billion EV charge

Honda Motor posted its first annual loss in nearly 70 years as a listed company on Thursday, hit ‌by U.S. ⁠tariffs ⁠and more than $9 billion in costs to restructure its electric-vehicle business.

Its operating loss totalled 414.3 billion yen ($2.63 billion) for the year ended March, compared with a ⁠median estimate of ‌a 315.6 billion yen loss in a poll ⁠of 22 analysts by LSEG and a 1.2 trillion yen profit a year earlier.

Japan's second-largest automaker booked total EV-related losses of 1.45 trillion yen for the business year ended ‌March and expected to face additional costs of 500 billion yen for ⁠the year just started.


The company still expects to return to profitability this year, forecasting a 500 billion yen profit on cost-reduction measures and its profitable motorcycle business.

($1 = 157.8300 yen)